Bank of China launches operations in Serbia

Speaking on Saturday during a ceremony at the Palace of Serbia in Belgrade, Nikolic noted that that it was precisely this bank that had started the financing of the Zelezara steelworks plant in Smederevo.

Nikolic said that with its help and Zelezara's owner, Hesteel, the Smederevo plant "will operate more successfully than ever in its history."

He wished the bank, whose Belgrade headquarters will also serve as a regional hub, successful operations at the regional level, "since its development is a guarantee of the development of Serbia."

Nikolic noted that Bank of China is already active in the region and will from now coordinate the activities in this part of Europe - Bulgaria, Romania, Hungary, Croatia, Slovenia, Bosnia-Herzegovina, Montenegro and Albania.

"I wish you a happy beginning and successful work. Welcome to Serbia," the president said.

The ceremony was also attended by National Assembly President Maja Gojkovic, government ministers, and Chinese Ambassador to Serbia Li Manchang.

The bank announced earlier that Serbia will be first Balkan country to host what is the world’s fifth largest bank by total assets.